Edible oil industry urged to create joint fund for growing more oilseeds

KARACHI: Renowned businessman and Chairman Westbury Group M Bashir Janmohammed has urged the edible oil industry to reduce dependency on import and make more efforts and create a joint fund for the development of growing oilseeds in Pakistan, so the country can save foreign exchange being spent on the import of edible oil.

Addressing a dinner, on the sideline of the 6th Pakistan Edible Oil Conference, he suggested that all industries must create special Research and Development departments in their companies for growing more oilseeds in the country. The dinner was held on Friday night at local hotel and hosted by Sufi Group of Companies.

“With the experience of over fifty years in this industry, I want to say that industries must revolutionize and support growing more local seed and improve its quality,” he added.

In addition, he also asked for innovation in packaging and said that now the country’s edible oil industry has now become a multibillion industry and it’s the right time to come up to the expectation of the government and the consumers by implementing and promoting the required seed cultivation on the local stage.

Bashir Janmohammed informed that the Sindh government is planning to promote palm oil plantations to increase the local production of edible oil. Sindh Coastal Development Authority (SCDA) has collaborated with Malaysia-based firms to promote local palm oil production, he mentioned.

The collaboration with Malaysian firms not only bring the latest production technology, agriculture expertise for palm oil cultivation but will also help in minimizing environmental pollution.

“Our prime preference is to help in self-sufficiency to save huge and valuable foreign exchange for the Country. We may also cultivate other crops like Sunflower and Rapeseeds which are most suited to our weather and soil,” he added.

On the occasion, Rasheed Janmohammed, CEO PEOC, Tariq Ullah Sufi, Chairman Sufi Group and CEO PEORA, Khalid HidayatUllah Sufi, Director Sufi Group, Tanvir Ahmed Sufi, Director Sufi Group, Hamza Tariq Sufi, Director Sufi Group, Sheikh Abdul Razzak, Chairman PVMA, Mian Muhammad Ahmed, Chairman APSEA and Syed Anwar Suhail Rizvi, Chairman PSMA were also present.

The main conference of 6th Pakistan Edible Oil Conference (PEOC) will be held on Saturday (today). The two-day conference is being organized with support of Pakistan Vanaspati Manufacturers Association (PVMA), Pakistan Soap Manufacturers Association (PSMA), Pakistan Edible Oil Refiner Association (PEORA), All Pakistan Solvent Extractors’ Association (APSEA), Malaysian Palm Oil Board (MPOB), Malaysian Palm Oil Council (MPOC) and Gabungan Pengusaha Kelapa Sawit Indonesia (GAPKI).

Copyright Business Recorder, 2024